THE new 18,980-TEU CSCL India Ocean is to join the Asia-north Europe service offered in partnership with CMA CGM and UASC in the Ocean Three alliance, named respectively FAL 8 by CSCL, AEX 1 and AEC 1.
Initially, the ships valued at US$136.59 million per unit were ordered at 18,400 TEU in 2013 from Hyundai Heavy Industries (HHI).
She follows the CSCL Pacific Ocean delivered in December.
The service is one of four Asia-North Europe loops started earlier in January within the O3 agreement. The loop will also be used by Cosco, Yang Ming, Hanjin Shipping and Taiwan's Evergreen under separate slot agreements, reported Alphaliner.
In 2014, the company reaped about CNY910.6M in proceeds by disposals of non-core business and its terminal-operating subsidiary. Photo: PA
China Shipping Container Lines (CSCL) predicted that it would return to the black with profits of CNY1.0Bn ($161M) for 2014 on asset disposals, cost cuts and improvement in operations.
CSCL had its container shipping business come back to the black by strict controls of operating costs, optimisation of fleet structure and improvement in shipping routes and networks, a stock filing of the company said.
In 2013, CSCL slumped to losses of CNY2.6Bn due to the lack of cargo volume's support for rate hikes sought by the company and rise in operating costs.
In 2014, the company reaped about CNY910.6M in proceeds by disposals of non-core business and its terminal-operating subsidiary.
In September 2014, CSCL signed three major agreements with French container shipping company CMA CGM and United Arab Shipping Company (UASC) to co-operate on the East-West trades in the forms of vessel sharing, slot exchanges and slot chartering.
The three agreements, covering the Asia-Europe trades, the Asia-Mediterranean, Adriatic Sea and Black Sea trades and the trans-Pacific trades, will be effective for a period of 24 months from the first day of co-operation, a stock filing of CSCL said today. The agreements will automatically continue if no parties express objections after expirations.
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